NEWARK, N.J., Oct. 17, 2016 - Moffitt Cancer Center recently recommitted to Prudential Retirement as recordkeeper for five of its defined contribution plans, totaling $480 million in assets. Prudential Retirement is a business unit of Prudential Financial, Inc. (NYSE:PRU).
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Moffitt Cancer Center, the Florida-based leading cancer treatment and prevention center, has approximately 5,000 participants in the defined contribution plans covered under the renewed contract.
The retirement services provider began its partnership with Moffitt Cancer Center in 2007 when it signed on as its recordkeeper. Moffitt renewed its contract in August.
Underscoring a commitment to healthcare institutions
“We are pleased to continue our partnership with long-time client Moffitt Cancer Center,” said Sean McLaughlin, senior vice president, Client Relations and Business Development for Prudential Retirement’s Full Service Solutions business. “In an increasingly competitive marketplace, we appreciate Moffitt’s confidence in the value we bring to their business and plan participants. Our renewed engagement underscores our deep understanding of issues facing healthcare institutions and ability to develop tailored solutions.”
Prudential Retirement provides defined contribution retirement plan solutions for approximately 615 plans in the healthcare sector, with $14.7 billion in assets under management, including Moffitt Cancer Center. Services to help participants include onsite meetings, custom campaigns, an engagement hub, financial wellness seminars and a custom web portal.
Based in Tampa, Fla., Moffitt Cancer Center is dedicated to the prevention and cure of cancer and is one of the three largest cancer centers in the United States based on patient volume. It is also one of only 47 National Cancer Institute-designated Comprehensive Cancer Centers, a distinction that recognizes Moffitt’s excellence in research, its contributions to clinical trials, prevention and cancer control.
“Moffitt’s focus with this partnership is on providing the best resources for each of our team members so they can be engaged in decisions that impact their eventual retirement,” said Amy Durham, SPHR senior director, Total Rewards at Moffitt Cancer Center. “This partnership allows our team members an opportunity to interact with their retirement plan through technological innovations without disrupting them from their main mission, which is to treat our cancer patients.”
About Moffitt Cancer Center
Moffitt is dedicated to one lifesaving mission: to contribute to the prevention and cure of cancer. The Tampa-based facility is one of only 47 National Cancer Institute-designated Comprehensive Cancer Centers, a distinction that recognizes Moffitt’s excellence in research, clinical trials, prevention and cancer control. Moffitt is the No. 6 cancer hospital in the nation and has been listed in U.S. News & World Report as one of the “Best Hospitals” for cancer care since 1999. Moffitt devotes more than 2.5 million square feet to research and patient care. Moffitt’s expert nursing staff is recognized by the American Nurses Credentialing Center with Magnet® status, its highest distinction. With more than 5,200 team members, Moffitt has an economic impact in the state of $2.1 billion. For more information, call 1-888-MOFFITT (1-888-663-3488), visit MOFFITT.org, and follow the momentum on Facebook, Twitter and YouTube.
About Prudential Retirement
Prudential Retirement delivers retirement plan solutions for public, private, and nonprofit organizations. Services include defined contribution, defined benefit and non-qualified deferred compensation recordkeeping, administrative services, investment management, comprehensive employee education and communications, and trustee services, as well as a variety of products and strategies, including institutional investment and income products, pension risk transfer solutions and structured settlement services. With more than 85 years of retirement experience, Prudential Retirement helps meet the needs of 4.1 million participants and annuitants. Prudential Retirement has $374.9 billion in retirement account values as of June 30, 2016. Retirement products and services are provided by Prudential Retirement Insurance and Annuity Company (PRIAC), Hartford, Conn., or its affiliates.
About Prudential Financial, Inc.
Prudential Financial, Inc. (NYSE: PRU), a financial services leader, has operations in the United States, Asia, Europe and Latin America. Prudential’s diverse and talented employees are committed to helping individual and institutional customers grow and protect their wealth through a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds and investment management. In the U.S., Prudential’s iconic Rock symbol has stood for strength, stability, expertise and innovation for more than a century. For more information, please visit www.news.prudential.com.